Klarna and Nets have jointly developed a new payment solution for use in physical stores in the Nordics, beginning with selected pilot stores in Sweden.

The jointly developed payment solution gives consumers an option to pay for the purchase later – fully or in part – when shopping in physical stores. Consumers use the Nets terminal and their own mobile phone to complete the transaction.

The new service is easy to integrate in existing Nets terminals and will help merchants to increase turnover with a “pay later” option for consumers. Merchants will see clear benefits such as an increased amount of completed purchases and potentially increase the average order value. It requires no additional processes and zero interaction with the in-store staff. The new service from Nets and Klarna is on par with the experience of when paying with a payment card in a store.

Step by step how the new payment solution works:

The product is scanned in the cash register in the store.

The customer is given the option to select “pay later by invoice” in the Nets terminal.

If chosen, the customer enters the mobile phone number in the terminal.

There is no need for an app or registration to use the solution.

The customer approves the purchase through a received SMS link and is then automatically forwarded to the Klarna checkout page.

The customer accepts by clicking the “complete purchase” button on the mobile phone.

The new service is first introduced by Klarna and Nets in selected pilot stores in Sweden. Even though this joint solution is first to market, both Klarna and Nets are free to cooperate with other payment providers and credit providers.